on the heels of steve balmer's departure of microsoft, the ceo roulette game as begun. will be the next to go and what stock would pop? >> reporter: microsoft's more than 7% jump on friday after the announcement of steve balmers departure was the company's biggest one-day gain in more than four years. that surprised pop in the stock price leading investors to wonder what other stocks would pop if the ceos were to unexp t unexpectantly step down. some think a move to replace nasdaq ceo would move that stock to the upside. but also, consider jc penney. michael monday running things but the company still delivering a weak second quarter. there was speckation earlier this month an alan qestrum might take the helm. michael dell still trying to take the company private and many wondering if the company is better off staying public and if new leadership might be what the doctor ordered. finally, apple. tim cook's performance is lackluster with apple stock struggling but could someone innovate better? is there anyone else to fill the shoes of steve jobs? back over to you. >> so

shares of microsoft take off after news of steve balmer leaving in 12 months.ive to nicole on the floor of the new york stock exchange. looking at the stock and his legacy. >> right, his legacy, been with the company for 30 years, liz, at the helm, moved up to the top spot, but under scrutiny as of late because of microsoft, surface tablet was not a huge success, and has now announced a reorganization of the company and is waiting now until he can find a successor to step down from the chief executive role looking internally and externally for the best candidate. the analysts are mixed. some talk about an external candidate bringing in a new climate for the company while others say there's so many great candidates within microsoft. either way, we know that within 12 months, steve balmer will be retiring after over 30 years at the company, he wrote a memo to the employees at microsoft, talking about how much he loves the company, but they are moving into smart phones and tablets and expanding in another way, and he realizes that maybe now it's time for a change.

. >>> microsoft ceo steve balmer plans to retire in the next year. the company says balmer will stay until a successor is chosen and says microsoft needs a leader helping it move from software company to a devices and services company. he has been with the company 33 years. >> merchants are banding together and at the top of the list is more security. vic lee joins us live now with more on this. vic? >> the city of z.merchants organized what is called community benefits district. property owners voted this summer to provide funding to revitalize the downtown area of shops and restaurants and security is on the minds of many merchants here downtown san leandro is a charming center piece. the new funding will dprum assessments. >> it's almost $385,000 a year which will go to the downtown property owners and businesses to help elevenage the work they're doing. >> it will cover a range of services. san leandro borders high crime areas from oakland. there have been violent high profile cases in the past. so just today ples were making an arrest outside sa

ashley: steve balmer giving up the reins of microsoft. is this a game-changer for the stock? phone, a analyst at sanford bernstein mark, thanks for joining us. was ballmer forced out? did perhaps bill gates make this call? >> obviously there is no way of really knowing but my suspicion is that he made this decision on his own. he has been thinking about for a while and he talked about the fact that he would retire in roughly three years from now but the company is now making this massive transition to devices and to services. devices being enabling other people's devices and services being the cloud and that will take many, many years. with windows disappointing everyone including steve ballmer, he decided it's time to have someone else really drive this transition. ashley: who would be that someone else? is it someone outside the company, do you think? >> i don't know. there are, you know, a limited number about people who have expertise to be able to run and the pedigree to be able to run microsoft. you want someone who's going to be well-regarded by the street. someone who

microsoft searching for the next ceo after steve balmer announced he will be retiring.ow changes could impact your investment. >> and the biggest bubble of them all is the bubble in central banking. strong words from vince reinhart, the chief economist with morgan stanley and vince is here to tell us what he means. >> first, massive wildfires raging out west. california's rim fire is covering about 200 square miles and could be one of the worst fires in state history. scott cohn has more live in california. over to you, scott. >> hi, kelly. the size only begins to tell you the multiple challenges that they face here trying to fight this fire which is so big it actually creates its own weather patterns. that make it is difficult to predict. that's one challenge. take a look at the map of where we are. it gives you a sense of the other challenges. you have got yosemite national park and all of the national treasures there including the giant sequoias they're trying to protect and the reservoir that supplies hydroelectric power to san francisco 170 miles away and the heavi

. >> no doubt about that scott mcgrew, steve balmer is leaving microsoft? >> yeah, the announcement, good morning, that steve bammer, the ceo of microsoft will leave the company inside the next 12 months came really early this morning and invests approve. microsoft stock was up better than 7% in early trading. balmer is just the second ceo of the software giant, bill gates, of course, the first a replacement has not been named. microsoft says mr. balmer is retiring. microsoft has had a number of missteps lately, including lackluster sales of its surface tablet and a new version of windows and a confused launch of its latest xbox. balmer's been ceo for two years and despite several missteps, he called the iphone a toy, he faced the problems that bill gates never had to, notably, the decline of the pc, with those shares in microsoft up 7%, the fact they can even say that indicates what's going on on the nasdaq. the nasdaq is working this morning. the nation's second largest stock exchange went offline for three hours thursday due to some kind of computer glitc

. >>> the business world spent this past week figuring out who will replace steve balmer? now someone is taking bets. of course it's a british bookmaker and who could be the next to run the company. the top ten picks are current or former microsoft executives. no kia ceo is the favorite at 5-1 followed by current chief operating officer kevin turner. here are the interesting names, netflix ceo reed hastings 16-1 and marissa mayer and cheryl sand berg at 33-1, bill gates 50-1 and tim cook at apple, 100-1 right now. >> it will be somebody from disney or something. >> i think it will be. >>> that's "nightly business report" for tonight. i'm susie gharib have a great night. >> i'm bill griffeth. see you tomorrow. >>> "nightly business report," has been brought to you by. >> sailing through the heart of historic cities and landscapes on a river, you get close to iconic landmarks, to local life, to cultural treasures. viking river cruises, exploring the world in comfort. >> female announcer: research now shows that your brain has tremendous power over your health. >> the scienti

microsoft shares went up 7% after ceo steve balmer said he will renir a year.y investors concerned real estate recovery could falter because of mortgage rates and they may be rate saying sales have fallen down 13% in july. >> google glass the computer you wear like glasses probably won't go on sale another year but for one bay area woman it's already been a life changer. tonight taking a look at the way it's far more than a cool gadget for someone living with a disability. >> okay, glass. take a picture. >> it is something she wasn't able to do for decades. life is about finding work around. >> her brother installed home auto maigs. >> i can change channel autos her service dog can open doors and turn on lights. >> without mobility she had to give up a hobby she asked others to take pictures but it wasn't the same. so she entered a contest and won. >> just opens up a new world that you can't imagine. >> tammy invited to glass base camp. >> the team met her. she was excited about the technology. such an inspiring person. >> tammy, it turns out isn't the only qua

. >> microsoft ceo steve balmer retires and amazon wireless gets tested >> balmer announced he's going retire after nearly a decade saying he'll step down once a success jor identified. move comes as the company struggled to make the shift away from pcs to mobile devices, investors love the moves shares worth as much as 8.7%. highest price for shares since 2009. amazon has been testing a new wireless network allowing people to contact amazon devices to the internet wirelessly. people familiar with the matter say the test happened in cupertino. also today, apple made a big acquisition in map arena by the company embark, filling tree transit apps. terms of the deal not disclosed. latest purchase of the tech giant tried to improve apple maps app. u.s. stocks closed higher friday, closing its first two day rally in three weeks. bloomberg silicon valley index falling today nearly 2%. and trampbs pore taigs services raised $200 million and say the proceeds will be used to expand into new markets and to keep the company competitive. from outside of the bloomberg studios in san francisco, i'm

microsoft shares went up 7% after ceo steve balmer said he will renir a year.tors concerned real estate recovery could falter because of mortgage rates and they may be rate saying sales have fallen down 13% in july. >> google glass the computer you wear like glasses probably won't go on sale another year but for one bay area woman it's already been a life changer. tonight taking a look at the way it's far more than a cool gadget for someone living with a disability. >> okay, glass. take a picture. >> it is something she wasn't able to do for decades. life is about finding work around. >> her brother installed home auto maigs. >> i can change channel autos her service dog can open doors and turn on lights. >> without mobility she had to give up a hobby she asked others to take pictures but it wasn't the same. so she entered a contest and won. >> just opens up a new world that you can't imagine. >> tammy invited to glass base camp. >> the team met her. she was excited about the technology. such an inspiring person. >> tammy, it turns out isn't the only quadripleg

just a week after microsoft ceo steve balmer said he's leaving within a year sources tell bloomberg microsofts in talks with four scare about making a phone shall investment. four square is a service allowing users to share and save places visited. a stake would give microsoft a larger presence in social media and on mobile. chinese smart phone maker poached a top google executive. the vice president of leaving. u.s. stocks rose today, sending s and p higher for a second day. your bloomberg silicon valley index is up it's a deal falling apart in the past now verizon is in talks with vodafone again. by letting verizon buy out it's share that, is the story we'll continue to follow. at bloomberg studios in san francisco, larry, carolyn, back to you. >> thank you. >> nfl reached an agreement today to settle lawsuits brought by thousands of former players over brain injuries under the deal the league contributes $765 million to provide compensation to players. plaintiffs include 10 hall of famers. the judge announcing the settlement called it historic. i know $765 million sounds like a lot of mone

microsoft ceo steve balmer says he will retire during the next 12 months. he helped make gates make microsoft the giant that it once was. critics say microsoft has failed to embrace the mobile market. its shares rose 9% following today's news following news that balmer would leave. >>> and facebook shares have jumped more than 50% in about a month since it reported growth in mobile ads revenue. >>> the penalty a bay area grocery store chain has agreed to pay. >> plus. >> we would be opposed to any business that brings noise and traffic and congestion. >> mounting opposition to a facility that promises to help others. >> but first, a small plane crash near a northern california golf course. see who jumped into action to help the people inside. >> get ktvu news to go. click on the live icon and watch all of our newscasts live on your mobile device. look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only wa

the move higher coming mostly following the announcement that steve balmer will retire in the next 12 you go. the stock today, 33.31. is down 25 cents. it is a down -day for the dow, s&p and nasdaq. let's bring in david asman right now. david: yeah. unfortunately down day in the market. a fitting end for a down month, a down last day of the month. when you think of what is going on overseas it could be a lot worse but again the market losing a lot of support throughout the afternoon. let's go to lauren simonetti at new york stock exchange. we were watching market two up and down depending whether the secretary of state or president was talking. the vix has been up all day, up over 17. when the vix is that high you think the market will be lower than it is right now? >> it is weird when is going on. there is fear in the s&p sectors and how they're trading. you can see it in a vix which hit a high of 17.8. stocks are down, but no this isn't the most significant decline in the broader markets we've seen. cheryl: volatility higher but shares of apache one of the biggest gainers, lauren? >

ceo steve balmer revealed that he will be retiring from his post within the next year.e helm of microsoft from founder bill gates 13 years ago. no word yet on a replacement but a search committee is being formed that will include gates, former windows founder, steve's name has been thrown out as a possibility. microsoft's stock is up 6.8%. >>> the nasdaq opened this morning, it is currently up as i mentioned about 12 points s. far all the trades are going through unlike the major break down yesterday. the nasdaq froze trading for three hours after a computer glitch. companies that trade under nasdaq include microsoft, apple and facebook. and called the problem a connectivity issue. the sec says it will finalize rules requiring exchanges have tighter oversight of automated trading. >>> time is 7:44. it's a scary trend, thieves posing as pg&e workers taking advantage of trusting homeowners. pam cook is in the news room now to tell us about the crime popping up all over the bay area. >> pretty scary, the most recent robbery involving pg&e impersonators had v to adjust in t

and microsoft ceo steve balmer announcing his retirement.7%. >>> nasdaq also opened back up this morning. about 17 points at this point. so far all the trades going through unlike the break down yesterday though the nasdaq froze trading for three hours after a computer glitch. companies that trade under the nasdaq include the biggest names in business. apple, ply have soft, facebook. calls the problem a conducttivity issue. the sec says it will finalize rules requiring exchanges for tighter trading. >>> a ground breaking ceremony will be held in richmond. it's for a project named after a police officer who died nearby when his patrol car crashed. 29-year-old richmond police officer brad moody died on a rainy night in 2008. he lost control of his patrol car while responding to a call. several people who received donated organs from moody, they will be at this morning's ceremony. the officer bradley a. moody memorial under pass will go under railroad tracks that cross marie that bay parkway. >>> the number of lawsuits are growing in connection

microsoft steve balmer stepping down.nology rules the world and all this while facebook's mark zuckerberg says he wants to wire the world. i'm christine romans. this is "your money." nasdaq's nightmare put your

steve balmer, the head of microsoft. says he will retire in the next 12 months.mer in the right place at right time. friend with bill gates when my crow soft was a little upstart tech firm. balmer named ceo in 2000. microsoft had a few wins during his tenure but also had rough times losing more than half its market value putting out a buggy operating system and falling behind apple and google in the mobile market. company shares went up 7% when he announced his retirement. a dubious distinction, the deadliest job in the u.s. right now logging. the bureau of labor statistics says so. 64 loggers killed on the job last year. overall percentage of fatalities in the industry is up. if you are a logger, your job is 40 more times likely to kill you than the average job. experts believe one reason logging is so risky because of the boom in new home construction. companies might be hiring inexperienced workers to meet the demand. and the movie "norma rae" comes to mind. this is about quick meals and not textile mills. fast food workers in the south plan to demand higher p

steve balmer married a pr executive.ill gates married linda gates. >> it's a different culture. >> yeah, so this isn't completely beyond the veil. >> it's not just some of the fortune 500 companies of old. robert, can you address what everybody seems to be chatting about, which is the prenup, what we know, what a settlement might look like? >> we don't know anything about what pretthe prenup says. there was one when sergey was worth about $6 billion, he's now worth about 24. that $16 billion would at least be his going into the marriage, so the prenup would deal with that 8 billion earned after that, and if there is a prenup, unlikely to affect his share sale. he does have a program in place since 2010 where he's selling about 2 billion shares between 2010 and 2015, so it would appear he would have enough liquidity to deal with whatever he might have to pay out. she would probably be fairly wealthy on her own with her own company and other investments. >> i'm sure she is. that will be an interesting story, a lot of peopl

steve balmer has been ceo of the world's largest company since 2000.d today he will retire sometime over the next year once microsoft finds a replacement. in a statement he said there is never a perfect time for this type of transition but now is the right time. microsoft has struggled under his watch. the company's worth dipped from a reported 600 billion to less than 300 billion. now to the case of the woman facing $100,000 in parking tickets. that's 678 tickets total ling chicago's biggest parking ticket bill ever according to the chicago tribune. the newspaper reports the woman blames her ex-boyfriend as the story goes: she says he put a car in her name and left it in a parking lot at o'hare airport for three years. the woman reportedly has now struck a deal with the city and her ex. she will pay just less than $4,500. discount of more than 95,000. the ex has also reportedly agreed to pay some of it country music star carrie underwood is set to play maria von trap upcoming production. julie andrews made the film famous. now we have learned who is s

adam: steve balmer finally read your book. who would you like to see replace him?am, i believe, i have to go out and hire somebody the same way yahoo! did. maybe one of the lieutenants of google. that will change the whole manment strategy of that company because that i think is needed. liz: one of the lieutenants of google's names was just floated in the last hour, waa keep, nikesh aurora. very high up on the food chain, a friend of this program, a very smart guy. is that the name you look forward to getting into microsoft? >> i can tell you one thing, you're on the right track. adam: that is an interesting come men. do you have some kind of inside information? are you in touch with him? >> no, i am not but, i heard this through the grapevine in the morning. adam: i'm not believing that you're not in touch with him. i think you know something. can you share it with us? >> no. some friends who were basically telling me his name and, i have watched him for some time i think he is a terrific guy and would be super for microsoft. liz: who is going to be on the so-call

microsoft steve balmer stepping down. technology rules the world and all this while facebook's mark zuckerberg says he wants to wire the world. i'm christine romans. this is "your money." nasdaq's nightmare put your retirement at riff. it shows once again that the computers run the stock market and humans don't yet know how to manage the risks created by the rise of the machines. so what happens if we wire the world? that's just one of the reasons i headed over to the "new day" set to speak with my colleague in the morning chris cuomo about what he learned from mark zuckerberg this week. you asked him about his new plan to connect the world. he's changed the world once. he wants to do it again. >> it's obvious to look at this about growing market, right, and the mobile space. mark zuckerberg says this is not about making money for them, it is literally about changing the world. >> here, we use things like facebook to share news and catch up with our friends, but there, they're going to use it to decide what kind of govern

ceo steve balmer announced today he plans to retire in the upcoming year.ar-old took over microsoft in 2000 from founder bill gates, but microsoft has struggled under balmer. in fact, the company lost more than half its market value. microsoft says it's forming a search committee, which will include bill gates, to find a successor. vollmer says he will stay on until the replacement is found. >>> california has a new tool that provides a full view of the california's unemployment data and other aspects of the economy, broken down by region, industry, and demographics. the california business round table launched the new website just today. the group says it will allow better understanding of the state's business climate and economic trends. >>> pedestrians versus vehicle. the san francisco neighborhood that may see its sidewalks get bigger as its streets get smaller. >> and the connection between sleep, screen time and how well children perform in school. >> and a big name bay area wine maker who took part in a nautical tradition today. >> in weather, clouds

they just institute this had big reorganization and led by steve balmer and a man walking out the doorithin 12 months. isn't that in and of itself one of the major hurdles going forward? >> so microsoft has a lot of hurdles going forward. it is still a profitable company and still has a great set in its business and obviously it is eclipsed by companies like apple and google and the question microsoft has to ask itself is it who does it want to be? balmer expressed his choice with the reorganization and it is not clear that it is within the skill set of any company to make a massive change from what microsoft is now, basically utility running off the profits from window and office and the serve ever business into a consumer focused company. they're only successful consumer product is xbox and even that they're not making a lot of money off of. the board thinking about the successor needs to think about this as a strategic choice. who do they want to be? do they want to be a successful profitable company that markets to business or take the gamble of making the same transformation that

. >>> big changes for microsoft's ceo steve balmer will retire within a year. a successor hasn't been named yet, but bill gates will be involved in the hiring process. microsoft has lost more than half its market value since balmer became ceo in 2000 but he's also had some good wins like windows 7, xbox and kinnect. >>> yahoo was one of the biggest sights on wall street. 196 million people went to yahoo compared to 192 million for google. they've made big changes since they took over a troubled company last year. that's the wrap-up on wall street. fredricka, back to you. >>> one of the big things investors will be looking for next week is the gdp number. that's the big measure on how the u.s. economy is doing overall. that's due out next thursday. >>> president barack obama spent part of his week focusing on the high coast of a college education. during his interview with cnn's chris kuomo, he laid out three things the administration is doing to help students. first, he wants to develop a new rating system which shows which schools are graduating students on ti

. >>> microsoft's ceo steve balmer will retire next year. the announcement came friday. during his 13 years he's watched apple and google over take microsoft as a major player in computing. kara swisher, good morning. >> hi. >> you were one of the first people to report on structural changes in the management of microsoft. what do you make of the timing of this? >> i think supposedly he felt he had gotten the changes through and wouldn't carry them out and didn't want to stay. he previously said he would stay. the pressure from wall street finally said it's time for him to go to the board. i think he was on thin ice as it was with the board. >> you mentioned investors. when the news leaked we saw a bump in microsoft stock. what does that mean? >> they're thrilled he's going. that's it. he's held -- when he got to microsoft, the company was worth there's 600 billion, i think. when he announced it yesterday, $270 billion. that's the problem. >> some things have gone right. x it is box went right. >> sort of. it's a great product. it's not making a lot of money. >> a lot ha

steve baum will retire within the next 12 months. microsoft will spend that time choosing his successor. balmer took over as ceo from bill gates 13 years ago. microsoft is part of nasdaq which is also gaining ground this morning. a technical glitch shut down trading yesterday for three hours. this was the latest in the series of problems. our geuest, a senior columnist t yahoo! finance. m how serious is this glitch? >> pretty serious. i don't think there was money in jeopardy during the three hours it was closed. kind of a blunt reminder we have a rickety system. it is just a data processing network. it's very intricate. it can't really deal with all the data traffic. >> how will they fix it? >> i think they have to invest more in systems and coordinating. there are dozens of trading platforms. it's not just two exchanges anymore. they all have to be very tightly coordinated in the back office sense. that's going to happen. obviously regulators are kind of on this. they've kind of needed a priority since the flash crash a few years ago. but it hasn't really changed the underlying structural dyn